Our Home Contents Policy covers the replacement or repair of your damaged or destroyed contents at current cost. This means it’s very important that you value your contents, on a regular basis, for their current cost of replacement if they were completely destroyed. The value you decide upon will be the amount your contents will be covered for.
If you’re unsure of the value you would like to insure your contents for, AAMI has created an interactive contents valuation calculator, that you can use to give you a estimated value of your contents. When working out the value of your contents you should think about how much it would cost to replace them with new equivalent items today. To use the calculator, go to: Content Calculators.
When you are insuring your contents in a home in which you are residing as a tenant, your contents also include:
any fixtures or fittings for which you are responsible under the rental agreement,
fixtures or fittings that you own.
To increase the value of your contents amount covered, email your request to us at email@example.com and list the following details: your policy number, first name and surname, e-mail address, phone number, date of birth and the revised amount of contents cover you would like. Your contents cover will only increase once we have advised you in writing and is subject to you paying us any additional premium we charge you.
AAMI does not specify a minimum sum insured for your Contents.
You should insure your contents for their new for old replacement value. There are 3 types of contents that can be covered under the policy:
contents without fixed limits (e.g. leather lounge, television, clothes);
contents with fixed limits that cannot be changed (e.g. contents in the open air, cash);
contents with flexible limits (works of art, woven rugs).
2. Specified Contents
You can ask us to increase the limit of a ‘flexible limit’ content item by listing that item for a specified value i.e a specific painting you have asked us to cover at the insured address for a specified value. If we agree and you pay the additional premium, the content will then be shown on your insurance schedule under 'Specified Contents'.
3. Optional Extra Cover for portable valuables (accidental loss/damage cover at and away from the home)
You may also want cover away from the home for personal items you often wear or carry with you (eg jewellery, watch, laptop, mobile device).
You have the option to purchase this cover at the end of the quote process when you premium is provided. You will also find information regarding the types of items you can cover as portable valuables.
A formal rental agreement with your tenant is not required to purchase an AAMI Landlord Policy, however, if you do not have a current written rental agreement at the time of loss, the cover we provide under optional tenant protection cover will be limiited. AAMI encourages you to have a written rental agreement in place, as we will ask you to provide documentation to support your claim in the event of loss.
AAMI Landlord Insurance can be extended to cover your landlord contents, which includes curtains, blinds, carptets and household items if your rent your property furnished or partially furnished.
Tenant Protection is an optional cover that can be added to your AAMI Landlord insurance policy for an extra premium, to cover you for malicious damage or theft caused by your tenants or their visitors. Cover limits do apply, please refer to the PDS.
Tenant Protection also provides limited cover for loss of rent should your tenant stop paying their rent. Our payment under a Tenant Protection claim will be reduced by an amount equivalent to four weeks rent at the rate payable under your tenant’s current rental agreement.
AAM Landlord Contents Insurance covers furniture and furnishings rented with your landlord property, carpets, curtains and blinds and air conditioning units for the sole use of your apartment or unit. In addiiton if you are renting out a unit or apartment that is part of an owners' corporation (also known as a body corporate or communitiy titles scheme), we cover fixtures and fittings that are not insured as part of the building (in NSW this includes paint on internal walls).
AAMI does not offer building insurance for units or apartments that are part of an owners corporation (also known as a body corporate or community titles scheme).
To purchase an AAMI Landlord insurance policy you don't need to know the measurements of your house. We ask you how many bedrooms your home has, how many storeys and the relative size of its rooms, as well as a number of other relevant questions.
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